BEVERLY HILLS — A fiery debate is breaking out across Beverly Hills as people at tony hair salons, gas stations and stores weigh in on whether the city of the rich and famous should become the first in the U.S. to outlaw the sale of tobacco products everywhere except a...
Tobacco Giant Strides Into Vape Market with $13B Juul Stake
Altria, one of the world's biggest tobacco companies, is spending nearly $13 billion to buy a huge stake in the vape company Juul as cigarette use continues to decline. The Marlboro maker said Thursday that it will take a 35 percent share of Juul, putting the value of the company...
Marlboro Maker Places $2.4 Billion Bet on Marijuana
NEW YORK — One of the world's biggest tobacco companies is diving into the cannabis market with a $2.4 billion buy-in. Marlboro maker Altria Group Inc. is taking a 45 percent stake in Cronos Group, the Canadian medical and recreational marijuana provider said Friday. Altria will pay another $1.4 billion...
McConnell Eyes Farm Bill as Path To Legal Hemp
Senate Majority Leader Mitch McConnell wants something to replace the faltering cash crop of tobacco in his home state of Kentucky. It's clear that he has found it: hemp. Sen. McConnell wants the federal government to take hemp off its list of Schedule I controlled substances, making it legal for farmers...